Investors poured $770 million into Bill Gross's new mutual fund
at Janus Capital Group Inc. in November, pushing the fund past $1
billion of assets under management, according to data released
Monday morning by fund research firm Morningstar Inc.
The pace of monthly inflows was the highest since Mr. Gross took
over the fund after his Sept. 26 departure from Pacific Investment
Management Co., the money manager he co-founded.
Since Mr. Gross came on board at Janus, the Janus Global
Unconstrained Bond fund has swelled from about $12 million in
assets under management to $1.2 billion at the end of November,
according to Morningstar. Other mutual funds at Janus also have
seen new investor money, reversing a long period of decline at the
Denver-based firm.
A spokesman for Janus didn't immediately return a call for
comment.
Still, the amount of money flowing into Mr. Gross's new fund is
just a fraction of the amount leaving Pimco. The Newport Beach,
Calif.-based firm has seen about $60 billion in investor outflows
between September and November just in Mr. Gross's former flagship
fund, the Pimco Total Return fund. Pimco competitors such as
BlackRock Inc. and Vanguard Group appear to have captured far more
of the outflows.
Janus saw $66.4 million of inflows into Mr. Gross's fund in
September, and $443 million in October, according to
Morningstar.
Write to Kirsten Grind at kirsten.grind@wsj.com
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